Deepfakes of Elon Musk contribute to billions in fraud losses in the U.S. [CBS News]
Verizon Communications Inc. (VZ)
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Source: CBS News
"Looked just like Elon Musk, sounded just like Elon Musk and I thought it was him," said Swan. She contacted the company behind the pitch and opened an account for more than $10,000. The 62-year-old healthcare worker thought she was making a smart investment in cryptocurrency from a businessman and investor worth billions of dollars. But Swan would soon learn she'd been scammed by a new wave of high-tech thieves using artificial intelligence to create deepfakes. Even looking back at the videos now, knowing they're fakes, Swan still thinks they look convincing. "They still look like Elon Musk," she said. "They still sound like Elon Musk." Deepfake scams on the rise As artificial intelligence technology evolves and becomes more accessible, these kinds of scams are becoming more common. According to Deloitte , a leading financial research group, AI-generated content contributed to more than $12 billion in fraud losses last year and could reach $40 billion in the U.S. by 2027
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